Ann: Update Permit EP 487, Canning Basin, page-8

Bring it on. BOPL has no money and now we find out if BRU wants to support a PEANUT.

Remember BRU have no rights to the 50%. ONLY if OBL let them have a percentage.

I currently see 2 scenarios playing out:

1. 75% OBL and OXX 25% or
2. BRU realise that they can only get a percentage if OBL allow them and it is now on OBL's terms.

My observation is BOPL have NOT paid their way and have been a free loader, unfit and improper person who has shown no intent or capability of being able to develop the permit.

OBL has paid all costs and BRU do not appear to want to pay up for BOPL's costs.

This appears to me that BRU have walked away. I think BRU will show their hand pretty quick. Their shareholders will want an answer. The last thing their shareholders would want is them paying for a PEANUTS legal fight.

However, this now makes OBL a vulnerable Takeover Target right now.